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SurfAndTurf
ParticipantHey guys, wanted to check in.
First offer, first failure 🙂
Went in 2% over asking on a house in La Mesa. Was turnkey and well done. The comps came back and we settled at an offer that felt competitive, but on the higher end. Competing offers came in another 3% above ours. And that was before any counters.
With the price trajectory there seems to be quite a bit of risk with appraisal contingencies. The competing offers waived them and I couldn’t stomach it. I couldn’t bridge the gap on $40k of additional downpayment if the appraisal came in quite a bit lower than the settled price.
We’re disappointed. Especially with the state of inventory. But we have another 4ish months to find something.
Also, that $850k clairemont house that was used as an example on one of the first replies sold above $1M, btw.
Participantinteresting – didn’t think about ending lease early. Just reviewed the terms and it does mention that i’d be liable only up to the point where it’s re-rented.
We’ve only been here for a year, but have had to put up with a lot so would expect theres some goodwill with the landlord.
ParticipantThanks all! Some great stuff here. Be assured I read everything and appreciate it. I just cant figure out an easy way to quote-reply to all of them lol. Been a long time since I’ve used one of these html forums…
In general looking west of the 15, south of the 52, north of the 94. It does seem like 900K is roughly the floor. We have some wiggle room in our budget. I spoke with a broker and a RE agent this week. should be getting pre-approval next week so i’ll have a better idea then.
We both commute south. I’m a day-a-week in office (for now?) in Chula and the wife works down that way as well.
Current lease is up on 06/01. I tried to start the process early. So i’m sure we could close ahead of that as long as we’re willing to eat $2,700/month. Seems like predicted appreciation more than makes up for that.
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